As the crypto market recovers, some people are looking to divert their funds from exchanges and invest in more traditional companies. The Giving Block is launching 15 new funds dedicated to direct donations by cause.
The Giving Block is a platform that allows people to donate cryptocurrencies to charity. The platform has launched 15 new funds that will allow users to direct their donations by cause.
The Giving Block, a cryptocurrency charity platform, has announced the introduction of 15 new ‘Cause Funds’ to help donors find nonprofits with comparable aims and purposes.
The Giving Block was created to let over 700 NGOs across the globe accept bitcoin payments, including Save the Children, Malala Fund, and World Vision.
According to The Giving Block’s website, the new Cause Funds “package together many NGOs that have a similar emphasis or objective,” and the tool is ideal for people who wish to support a particular problem or cause rather than an organization.
In this manner, the funding helped a variety of organizations, not only those with a well-known name, expand their reach.
“We often heard from contributors who wanted to support a certain sort of cause — for example, the environment — but were having trouble deciding,” said co-founder Alex Wilson to Cointelegraph.
“Donors may support an entire category of effect with a single transaction via the cause funds. It’s a win-win situation for both charity and donors.”
Health and medicine, liberty and freedom, military veterans and first responders, poverty and housing, technology and science, animals, arts and culture, children and youth, civil and human rights, disasters and conflict, economic development, and food and water are among the categories aligned with the United Nations’ Sustainable Development Goals.
“Depending on the cause, the contributions will be utilized for a variety of purposes. Some monies may be used to construct schools, while others may be used to feed starving children,” Wilson said, adding that the objective for this year was to collect $100 million for charity via crypto contributions.
So, why is it most likely nothing? (It’s really rather significant)
A SINGLE gift to a Cause Fund may have a MASSIVE rippling impact!
One gift Equals unprecedented philanthropic effect.
https://t.co/6bMycurFvl for additional information
November 3, 2021 — The Giving Block (@TheGivingBlock)
Hundreds of NGOs are said to have already shown interest in participating in the Cause Funds. Only firms situated in the United States are now eligible, but Wilson says they want to expand overseas shortly. At the beginning of each month, the Cause Funds will be updated to add new NGOs.
Read more about how you can help Afghanistan by donating cryptocurrency.
Donors may support a cause by donating one of 45 cryptocurrencies. The entire amount of each fund will be dispersed equitably among all charitable groups participating in that fund once a month.
The Giving Block claims that the contributions will have a significant impact on crypto adoption in general, in addition to the charity sponsored by the funding.
“With a growing number of NGOs finding success with cryptocurrency fundraising, cryptocurrency adoption in the philanthropic sector is set to skyrocket.” According to the Giving Block website, “this reaffirms charity giving as a key use case for cryptocurrencies.”
The Giving Block has launched 15 new funds to direct crypto donations by cause. These funds are available for charities that need support in the form of cryptocurrency. The funds are currently capped at $10,000 per month. Reference: give crypto charity.
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